Speaker's debt reduction plan to come to floor today

Washington – Rules Committee members are at present debating a suspension resolution to allow a revised debt increase bill to come to the floor later today.

House Speaker John Boehner modified his plan to increase the debt limit by nearly a trillion dollars while at the same time cutting federal spending by the same amount over the next ten years.

An amendment will be added to require both houses of congress to send a balanced budget amendment to the U.S. Constitution for ratification by the states.

Rules committee members said the Speaker has found adequate support among GOP members reluctant to support the measure without the balanced budget amendment to pass the bill.

An up or down vote on the measure was postponed yesterday when the Republican leadership could not muster the votes necessary to pass the bill without a required balanced budget amendment.